CAPITA FINANCIAL SERVICES INC. (ST. LUCIA BRANCH) Statement of Cash Flows March 31, 2024 (expressed in Eastern Caribbean dollars) 7 Notes 2024 $ (Restated) 2023 $ Cash flows from operating activities (Loss)/profit before taxation (4,243) 21,307 Adjustments for: Depreciation 7 167,008 312,282 Gain on disposal of equipment (11,400) – Interest income 14 (2,232,566) (2,325,859) Interest expense 15 1,131,454 1,142,135 Expected credit loss expense/(recovery) 18 250,888 (12,602) (698,859) (862,737) Changes in operating assets and liabilities: Increase in loans and advances (876,102) (433,634) Decrease in other assets 42,045 298,859 Increase in customer deposits 1,648,241 581,551 (Increase)/decrease in due from related company (649,699) 1,487,424 Increase in other liabilities 37,352 164,778 Net cash (used in)/from operations (497,022) 1,236,241 Interest received 1,921,210 2,140,427 Interest paid (1,089,723) (1,100,191) Net cash from operating activities 334,465 2,276,477 Cash flows from investing activities Decrease/(increase) in other term deposits 1,707,254 (130,200) Proceeds from the sale of fixed assets 11,594 – Purchase of property and equipment 7 (944) (219,470) Net cash from/(used in) investing activities 1,717,904 (349,670) Cash flows from financing activities Transfers from/(to) head office 34,905 (1,643,054) Repayment of loans payable (65,555) (63,173) Payment on lease liability – (191,494) Net cash used in financing activities (30,650) (1,897,721) Net increase in cash and cash equivalents 2,021,719 29,086 Cash and cash equivalents - beginning of year 2,074,176 2,045,090 Cash and cash equivalents - end of year 4 4,095,895 2,074,176 See accompanying notes to the financial statements.
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